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SHAREHOLDERS' EQUITY AND EMPLOYEE BENEFIT PLANS (Tables) | 12 Months Ended
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Sep. 28, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Company’s matching contributions to the Plan | The following table reflects the Company’s contributions to the Plan during fiscal 2019 and 2018:
|  | Fiscal
(in thousands) |  | 2019 |  | 2018
Cash |  | $ | 1,648 |  |  | $ | 1,610 |
Accumulated other comprehensive income reflected on the Consolidated Balance Sheets | The following table reflects accumulated other comprehensive income / (loss) reflected on the Consolidated Balance Sheets as of September 28, 2019 and September 29, 2018:
|  | As of
(in thousands) |  | September 28, 2019 |  | September 29, 2018
Loss from foreign currency translation adjustments |  | $ | (7,745 | ) |  | $ | (1,211 | )
Unrecognized actuarial loss on pension plan, net of tax |  | (1,598 | ) |  | (1,620 | )
Unrealized loss on hedging |  | (597 | ) |  | (1,071 | )
Accumulated other comprehensive loss |  | $ | (9,940 | ) |  | $ | (3,902 | )
Equity-based compensation expense | The following table reflects total equity-based compensation expense, which includes Relative TSR PSUs, Time-based RSUs, Special/Growth PSUs, Performance-based Restricted Stock and common stock, included in the Consolidated Statements of Operations for fiscal 2019, 2018, and 2017:
|  | Fiscal
(in thousands) |  | 2019 |  | 2018 |  | 2017
Cost of sales |  | $ | 632 |  |  | $ | 515 |  |  | $ | 463 |
Selling, general and administrative |  | 10,503 |  |  | 8,548 |  |  | 9,015 |
Research and development |  | 3,197 |  |  | 2,622 |  |  | 2,244 |
Total equity-based compensation expense |  | $ | 14,332 |  |  | $ | 11,685 |  |  | $ | 11,722 |
The following table reflects equity-based compensation expense, by type of award, for fiscal 2019, 2018, and 2017:
|  | Fiscal
(in thousands) |  | 2019 |  | 2018 |  | 2017
Relative TSR PSUs |  | $ | 4,220 |  |  | $ | 3,583 |  |  | $ | 3,480 |
Time-based RSUs |  | 8,603 |  |  | 7,027 |  |  | 7,492 |
Special/Growth PSUs |  | 675 |  |  | 295 |  |  | — |
Common stock |  | 834 |  |  | 780 |  |  | 750 |
Total equity-based compensation expense |  | $ | 14,332 |  |  | $ | 11,685 |  |  | $ | 11,722 |
Employee market-based restricted stock activity | The following table reflects Relative TSR PSUs activity for fiscal 2019, 2018, and 2017:
| Number of shares (in thousands) |  | Unrecognized compensation expense (in thousands) |  | Average remaining service period (in years) |  | Weighted average grant date fair value per share
Relative TSR PSUs outstanding as of October 1, 2016 | 484 |  |  | $ | 2,924 |  |  | 1.0 |  |
Granted | 388 |  |  |  |  |  |  | $ | 13.47 |
Forfeited or expired | (3 | ) |  |  |  |  |  |
Vested | (196 | ) |  |  |  |  |  |
Relative TSR PSUs outstanding as of September 30, 2017 | 673 |  |  | $ | 6,204 |  |  | 1.4 |  |
Granted | 180 |  |  |  |  |  |  | $ | 29.60 |
Forfeited or expired | (146 | ) |  |  |  |  |  |
Vested | (168 | ) |  |  |  |  |  |
Relative TSR PSUs outstanding as of September 29, 2018 | 539 |  |  | $ | 4,629 |  |  | 1.1 |  |
Granted | 166 |  |  |  |  |  |  | $ | 23.15 |
Forfeited or expired | (27 | ) |  |  |  |  |  |
Vested | (117 | ) |  |  |  |  |  |
Relative TSR PSUs outstanding as of September 28, 2019 | 561 |  |  | $ | 4,136 |  |  | 0.9 |  |
Schedule of Assumptions Used to Calculate Compensation Expense | The following table reflects the assumptions used to calculate compensation expense related to the Company’s Relative TSR PSUs issued during fiscal 2019, 2018, and 2017:
| Fiscal
| 2019 |  | 2018 |  | 2017
Grant Price | $ | 20.87 |  |  | $ | 19.65 |  |  | $ | 12.51 |
Expected dividend yield(1) | 2.30 | % |  | 0.12 | % |  | N/A |
Expected stock price volatility | 34.20 | % |  | 31.71 | % |  | 30.39 | %
Risk-free interest rate | 2.92 | % |  | 1.68 | % |  | 0.96 | %
(1) The expected dividend yield for fiscal 2018 includes the effect of 10,511 grants which were issued in the quarter ended September 29, 2018 with an assumed dividend yield of 1.91%
Employee time-based restricted stock activity | The following table reflects Time-based RSUs activity for fiscal 2019, 2018, and 2017:
| Number of shares (in thousands) |  | Unrecognized compensation expense (in thousands) |  | Average remaining service period (in years) |  | Weighted average grant date fair value per share
Time-based RSUs outstanding as of October 1, 2016 | 1,015 |  |  | $ | 6,440 |  |  | 1.5 |  |
Granted | 715 |  |  |  |  |  |  | $ | 13.32 |
Forfeited or expired | (50 | ) |  |  |  |  |  |
Vested | (600 | ) |  |  |  |  |  |
Time-based RSUs outstanding as of September 30, 2017 | 1,080 |  |  | $ | 7,770 |  |  | 1.5 |  |
Granted | 459 |  |  |  |  |  |  | $ | 22.32 |
Forfeited or expired | (87 | ) |  |  |  |  |  |
Vested | (542 | ) |  |  |  |  |  |
Time-based RSUs outstanding as of September 29, 2018 | 910 |  |  | $ | 9,038 |  |  | 1.4 |  |
Granted | 521 |  |  |  |  |  |  | $ | 20.95 |
Forfeited or expired | (42 | ) |  |  |  |  |  |
Vested | (442 | ) |  |  |  |  |  |
Time-based RSUs outstanding as of September 28, 2019 | 947 |  |  | $ | 10,555 |  |  | 1.4 |  |
Schedule of Performance Based Restricted Stock Activity |
| Number of shares (in thousands) |  | Unrecognized compensation expense (in thousands) |  | Average remaining service period (in years) |  | Weighted average grant date fair value per share
Time-based RSUs outstanding as of October 1, 2016 | 1,015 |  |  | $ | 6,440 |  |  | 1.5 |  |
Granted | 715 |  |  |  |  |  |  | $ | 13.32 |
Forfeited or expired | (50 | ) |  |  |  |  |  |
Vested | (600 | ) |  |  |  |  |  |
Time-based RSUs outstanding as of September 30, 2017 | 1,080 |  |  | $ | 7,770 |  |  | 1.5 |  |
Granted | 459 |  |  |  |  |  |  | $ | 22.32 |
Forfeited or expired | (87 | ) |  |  |  |  |  |
Vested | (542 | ) |  |  |  |  |  |
Time-based RSUs outstanding as of September 29, 2018 | 910 |  |  | $ | 9,038 |  |  | 1.4 |  |
Granted | 521 |  |  |  |  |  |  | $ | 20.95 |
Forfeited or expired | (42 | ) |  |  |  |  |  |
Vested | (442 | ) |  |  |  |  |  |
Time-based RSUs outstanding as of September 28, 2019 | 947 |  |  | $ | 10,555 |  |  | 1.4 |  |
Schedule of Special/Growth Based Restricted Stock Activity | The following table reflects Special/Growth PSUs activity for fiscal 2019, 2018, and 2017:
| Number of shares (in thousands) |  | Unrecognized compensation expense (in thousands) |  | Average remaining service period (in years) |  | Weighted average grant date fair value per share
Special/Growth PSUs outstanding as of September 30, 2017 | — |  |  |  |  |  |  |
Granted | 60 |  |  |  |  |  |  | $ | 22.57 |
Forfeited or expired | (14 | ) |  |  |  |  |  |
Vested | — |  |  |  |  |  |  |
Special/Growth PSUs outstanding as of September 29, 2018 | 46 |  |  | $ | 702 |  |  | 2.1 |  |
Granted | $ | 55 |  |  |  |  |  |  | $ | 21.07 |
Forfeited or expired | $ | (4 | ) |  |  |  |  |  |
Vested | $ | — |  |  |  |  |  |  |
Special/Growth PSUs outstanding as of September 28, 2019 | $ | 97 |  |  | $ | 1,128 |  |  | 1.6 |  |
Employee stock option activity | The following table reflects employee stock option activity for fiscal 2019, 2018, and 2017:
| Number of shares (in thousands) |  | Weighted average exercise price |  | Average remaining contractual life (in years) |  | Aggregate intrinsic value (in thousands)
Options outstanding as of October 1, 2016 | 90 |  |  | $ | 8.41 |  |  |  |  |
Exercised | (61 | ) |  | $ | 8.31 |  |  |  |  | $ | 531 |
Forfeited or expired | (13 | ) |  | $ | 8.50 |  |  |  |  |
Options outstanding as of September 30, 2017 | 16 |  |  | $ | 8.73 |  |  |  |  |
Exercised | (6 | ) |  | $ | 8.74 |  |  |  |  | $ | 73 |
Forfeited or expired | (8 | ) |  | $ | 8.74 |  |  |  |  |
Options outstanding as of September 29, 2018 | 2 |  |  | $ | 8.64 |  |  |  |  |
Exercised | (2 | ) |  | $ | 8.64 |  |  |  |  | $ | 24 |
Forfeited or expired | — |  |  | $ | — |  |  |  |  |
Options outstanding as of September 28, 2019 | — |  |  | $ | — |  |  | — |  |  | $ | — |
Options vested and expected to vest as of September 28, 2019 | — |  |  | $ | — |  |  | — |  |  | $ | — |
Options exercisable as of September 28, 2019 | — |  |  | $ | — |  |  | — |  |  |
In the money exercisable options as of September 28, 2019 | — |  |  |  |  |  |  | $ | — |
Common stock issued to non-employee directors | The following table reflects shares of common stock issued to non-employee directors and the corresponding fair value for fiscal 2019, 2018, and 2017:
| Fiscal
(in thousands) | 2019 |  | 2018 |  | 2017
Number of common shares issued | 37 |  |  | 33 |  |  | 45 |
Fair value based upon market price at time of issue | $ | 834 |  |  | $ | 780 |  |  | $ | 750 |
Non-employee director stock option activity |
| Fiscal
(in thousands) | 2019 |  | 2018 |  | 2017
Number of common shares issued | 37 |  |  | 33 |  |  | 45 |
Fair value based upon market price at time of issue | $ | 834 |  |  | $ | 780 |  |  | $ | 750 |
Defined benefits pension obligations and pension expenses | The following table reflects the Company's defined benefits pension obligations, mainly in Switzerland and Taiwan, as of September 28, 2019 and September 29, 2018:
|  | As of
(in thousands) | September 28, 2019 |  | September 29, 2018
Switzerland pension obligation | $ | 1,962 |  |  | $ | 1,980 |
Taiwan pension obligation | 1,191 |  |  | 1,256 |

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